Home Equity Loans
Filo Mortgage offers a wide range of closed-end home equity loans and home equity lines of credit (HELOCs). You can access up to 90% of your home’s equity (Loan-to-value up to 90%). You can take cash out on a home equity loan ranging from $50k to $500k. Terms are from 5 to 30 years and owner occupied and second homes included. Our home equity rates range from 7.50% to 11.0% depending on your credit score and the amount of equity in your home. It only takes minutes to apply online and decisions are fast. Plus, a dedicated loan consultant will help answer all your questions. Using a Filo Mortgage home equity loan, you can renovate and improve your home, consolidate debt, finance education, and make major purchases.
Filo Mortgage also offers stand-alone home equity loans and home equity lines of credit that are used in combination with a first mortgage. For example, we offer an 80-10-10 loan (also called a Piggyback Loan), which enables you to purchase a home with a 10% down payment. The main benefits of this approach are to avoid paying mortgage insurance and to quality for a conventional loan which generally has a lower rate than a Jumbo mortgage. We offer Piggyback loans for refinances as well and closed-end second loans. Contact us to learn more.